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of $15 a barrel oil by 2025. in terms of prices, we're talking about in the environment similar to today's, maybe slightly worse, in order to hit those and provide incentive to hit those will targets and also to dampen demand. that is part of the iaea calculus. you have both the production and demand side. an order for us to even in part a modest amount and get to that point requires a major steps forward in fuel efficiency. host: so who is benefiting the most? guest: the middle east continues to benefit tremendously. opec countries share a global connection forecast to go up -- production forecast to go up to nearly half of world oil supplies. the middle east remains a big beneficiary. the u.s. will be better off in those terms than it would be without this increase will bring production. we will be keeping more money at home. oil makes up about two-thirds of our trade deficit now. that number will decline. oil companies that do very well with higher prices will continue to do very well. host: back to the idea of shale gas. you mentioned some parts of the country where this is happening
situations but also to look at the bigger public policy, that of the environment and that of climate change and global warming. we need to be cognizant of our stewardship over the -- our planet. we need to make certain that if these data that are compiled are telling us that there is increased prescription, for instance, over the catskills watershed, in my district, let's respond accordingly to sound public policy as it relates to our environment and our stewardship of the environment and let's be cognizant of the needs in response of this measure. you know, i'll just say this, and i know you want to add to this discussion here. i'll say this, in a time where government perhaps has been hit hard by critics out there suggesting there's no role for public sector here, we need to reduce government, i can tell you people addressing the war room, as they designated it, putting together all of the professionalism and academics and people who operate these programs and how well trained, watching that compilation, that collaborative effort of these profession alcs who are responding to public -- pr
cannon. the cost of the debt service in that environment will be enormous. investors and retirees with social security and state debt will see their portfolios lose value. home buyers will see the cost of mortgages to rise and home owners will likely see the price of their homes fall. as few buyers qualify for these mortgages. the government could have its back to the wall at that point and we would be forced to embrace more drastic steps to ensure fiscal balance of the government does not take action now. why hasn't the government taken action? let's be candid -- putting aside the rhetoric -- rhetoric and the possible last two weeks, the behavior in washington in recent years confirms we have lost the ability to compromise. politicians who attempt to move to the center are set upon by their own side. one size faces continuing pressures never allowing a cent of spending cuts and there's a call countervailing opinion from the others as a reserve -- the other side that does not want a tax increase. each side of states the other side cannot win no matter what the consequences. the va
Search Results 0 to 2 of about 3